{"id":31173,"date":"2026-03-26T00:01:19","date_gmt":"2026-03-26T00:01:19","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/subat-ayinda-rusyanin-sanayi-uretimi-yuzde-09-geriledi-yuzde-11-artis-beklentisi-karsilanmadi\/"},"modified":"2026-03-26T00:01:19","modified_gmt":"2026-03-26T00:01:19","slug":"subat-ayinda-rusyanin-sanayi-uretimi-yuzde-09-geriledi-yuzde-11-artis-beklentisi-karsilanmadi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/subat-ayinda-rusyanin-sanayi-uretimi-yuzde-09-geriledi-yuzde-11-artis-beklentisi-karsilanmadi\/","title":{"rendered":"\u015eubat ay\u0131nda Rusya\u2019n\u0131n sanayi \u00fcretimi y\u00fczde 0,9 geriledi; y\u00fczde 1,1 art\u0131\u015f beklentisi kar\u015f\u0131lanmad\u0131"},"content":{"rendered":"Rusya\u2019n\u0131n sanayi \u00fcretimi \u015fubat ay\u0131nda %0,9 geriledi. Bu sonu\u00e7, beklenen %1,1\u2019lik art\u0131\u015f\u0131n alt\u0131nda kald\u0131.\n\nVeriler, \u00fcretimin artmak yerine d\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc g\u00f6steriyor. Bu da ay boyunca fabrikalardaki faaliyetin zay\u0131flad\u0131\u011f\u0131na i\u015faret ediyor.\n\n\u015eubat sanayi \u00fcretiminin beklenti olan %1,1 b\u00fcy\u00fcmeye kar\u015f\u0131l\u0131k %0,9 d\u00fc\u015f\u00fc\u015fle gelmesi, Rusya ekonomisindeki k\u0131r\u0131lganl\u0131\u011f\u0131n artt\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Piyasan\u0131n beklemedi\u011fi bu daralma, sorunlar\u0131n tahmin edilenden daha derin olabilece\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor. \u00d6n\u00fcm\u00fczdeki haftalarda Rusya ba\u011flant\u0131l\u0131 varl\u0131klarda \u201cay\u0131 y\u00f6nl\u00fc\u201d (fiyatlar\u0131n d\u00fc\u015fece\u011fini \u00f6ng\u00f6ren) bir havan\u0131n g\u00fc\u00e7lenmesi beklenebilir.\n\nBu veri, ruble \u00fczerinde do\u011frudan bask\u0131 yarat\u0131yor. USD\/RUB paritesinde 98 seviyesinin \u00fczerinde kal\u0131c\u0131 bir k\u0131r\u0131lma izleniyor. (Parite, iki para biriminin birbirine kar\u015f\u0131 fiyat\u0131n\u0131 g\u00f6sterir; USD\/RUB, 1 ABD dolar\u0131n\u0131n ka\u00e7 ruble etti\u011fidir.) Rusya Merkez Bankas\u0131\u2019n\u0131n 95 seviyesini savunmakta zorland\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor. \u201cD\u00f6viz rezervi\u201d (Merkez Bankas\u0131\u2019n\u0131n kur dalgalanmalar\u0131n\u0131 s\u0131n\u0131rlamak i\u00e7in elinde tuttu\u011fu yabanc\u0131 para ve alt\u0131n gibi kaynaklar) son \u00e7eyrekte %2 gerilediyse, kur piyasas\u0131na m\u00fcdahale g\u00fcc\u00fc zay\u0131flar. Bu \u00e7er\u00e7evede rublede \u201ck\u0131sa pozisyon\u201d (fiyat d\u00fc\u015f\u00fc\u015f\u00fcnden kazan\u00e7 hedefleyen i\u015flem) aray\u0131\u015f\u0131 \u00f6ne \u00e7\u0131kabilir; bunu vadeli i\u015flemlerle (gelecekte belirli fiyattan al\u0131m-sat\u0131m s\u00f6zle\u015fmesi) ya da USD\/RUB \u00fczerinde al\u0131m opsiyonu alarak yapmak m\u00fcmk\u00fcn. (Al\u0131m opsiyonu\/call, belirli tarihe kadar belirli fiyattan alma hakk\u0131 verir.)\n\nHisse taraf\u0131nda, olumsuz tablo MOEX Rusya Endeksi \u00fczerinde sat\u0131m opsiyonlar\u0131n\u0131 \u00f6ne \u00e7\u0131karabilir. (Sat\u0131m opsiyonu\/put, belirli tarihe kadar belirli fiyattan satma hakk\u0131 verir; d\u00fc\u015f\u00fc\u015f beklentisiyle kullan\u0131l\u0131r.) 2025 ortas\u0131nda benzer \u015fekilde zay\u0131f imalat verilerini izleyen alt\u0131 haftada endekste %7 d\u00fczeltme (k\u0131sa s\u00fcreli geri \u00e7ekilme) g\u00f6r\u00fclm\u00fc\u015ft\u00fc. \u00dc\u00e7\u00fcnc\u00fc ay \u00fcst \u00fcste gelen zay\u0131f sanayi verisi, kal\u0131c\u0131 bir yava\u015flama anlat\u0131s\u0131n\u0131 g\u00fc\u00e7lendiriyor.\n\nEmtia cephesinde zay\u0131fl\u0131k, enerjide i\u00e7 talebin d\u00fc\u015febilece\u011fine i\u015faret edebilir. Bu durumda \u00fcreticiler daha fazla Urals petrol\u00fcn\u00fc indirimli fiyatla ihracata y\u00f6nlendirebilir. (Urals, Rusya\u2019n\u0131n ana ham petrol t\u00fcr\u00fc; Brent ise k\u00fcresel fiyat kar\u015f\u0131la\u015ft\u0131rmas\u0131nda kullan\u0131lan referans ham petrol t\u00fcr\u00fcd\u00fcr.) Urals ile Brent aras\u0131ndaki \u201cfark\u201d (spread: iki fiyat aras\u0131ndaki makas) bu ay varil ba\u015f\u0131na 19 dolara geni\u015fledi; bu, 2025 sonundan bu yana en y\u00fcksek seviye. Bu e\u011filim h\u0131zlan\u0131rsa, i\u00e7 pazara daha \u00e7ok ba\u011f\u0131ml\u0131 enerji \u015firketlerinde a\u015fa\u011f\u0131 y\u00f6nl\u00fc pozisyon aray\u0131\u015f\u0131 artabilir.\n\nGenel olarak, ekonomik ger\u00e7ekle\u015fmeler ile piyasa beklentileri aras\u0131ndaki fark b\u00fcy\u00fcyor. Bu da \u201coynakl\u0131\u011f\u0131n\u201d (volatilite: fiyatlar\u0131n k\u0131sa s\u00fcrede sert dalgalanmas\u0131) artabilece\u011fine i\u015faret ediyor. B\u00fcy\u00fck Rus hisselerinde opsiyonlar\u0131n \u201cz\u0131mni oynakl\u0131\u011f\u0131\u201d (implied volatility: opsiyon fiyatlar\u0131n\u0131n i\u015faret etti\u011fi beklenen oynakl\u0131k) Mart 2026\u2019da %10\u2019dan fazla y\u00fckseldi. Bu ortam, \u201cstraddle\u201d gibi stratejileri \u00f6ne \u00e7\u0131kar\u0131r. (Straddle: ayn\u0131 vade ve kullan\u0131m fiyat\u0131nda hem al\u0131m hem sat\u0131m opsiyonu alarak, fiyat\u0131n yukar\u0131 ya da a\u015fa\u011f\u0131 g\u00fc\u00e7l\u00fc hareketinden yararlanmay\u0131 hedefleyen strateji.)\n

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Hemen i\u015flem yapmaya ba\u015flay\u0131n – Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

S\u00fcrpriz daralma alarm\u0131: Rusya sanayi \u00fcretimi \u015eubat\u2019ta %0,9 d\u00fc\u015ft\u00fc, %1,1 b\u00fcy\u00fcme beklentisi bo\u015fa \u00e7\u0131kt\u0131. Rublede bask\u0131 art\u0131yor, USD\/RUB 98 \u00fcst\u00fc. MOEX\u2019te put, Urals-Brent fark\u0131 19$. Oynakl\u0131k y\u00fckseliyor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-31173","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/31173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=31173"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/31173\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=31173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=31173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=31173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}